Source: Streetwise Reports 09/13/2018
A Canaccord Genuity report provided an update on the Idaho project.
In a Sept. 11 research note, analyst Eric Zaunscherb with Canaccord Genuity reported that eCobalt Solutions Inc. (ECS:TSX; ECSIF:OTCQX; ECO:FSE) successfully finished pilot-scale metallurgical testing for its Idaho cobalt project and intends to release the optimized feasibility study results by the end of this month. “These results could be an important milestone for eCobalt and a catalyst for its share price,” he added.
After eCobalt releases the findings, Zaunscherb explained, it will ship samples from the pilot plant to prospects for potential offtake agreements, finalize terms and agreements with them as part of a project financing package and come to a production decision.
The analyst noted that eCobalt’s stock price has “suffered since the beginning of the year.” He attributed this in part to depressed “sentiment around the battery materials theme” and delays in the feasibility study process. The latter were caused by the decision of eCobalt’s management team during the study to change the type of cobalt to be produced at Idaho, to a low-arsenic cobalt copper concentrate instead of cobalt sulphate heptahydrate.
Zaunscherb purported that the battery materials space should gain favor toward year-end, when “electric vehicle sales penetration ticks up and newly constructed battery manufacturing capacity comes online, complete with start-up restocking.”
Canaccord Genuity maintains its Speculative Buy rating and CA$0.90 per share target price on eCobalt Solutions, whose stock is trading now at around CA$0.81 per share.
Read what other experts are saying about:
- eCobalt Solutions Inc.
Sign up for our FREE newsletter at: www.streetwisereports.com/get-news
Disclosure:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following company mentioned in this article is a billboard sponsor of Streetwise Reports: eCobalt Solutions. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article, until one week after the publication of the interview or article.
Disclosures from Canaccord Genuity, eCobalt Solutions Inc., Flash Update, September 11, 2018
Analyst Certification: Each authoring analyst of Canaccord Genuity whose name appears on the front page of this research hereby certifies that (i) the recommendations and opinions expressed in this research accurately reflect the authoring analyst’s personal, independent and objective views about any and all of the designated investments or relevant issuers discussed herein that are within such authoring analyst’s coverage universe and (ii) no part of the authoring analyst’s compensation was, is, or will be, directly or indirectly, related to the specific recommendations or views expressed by the authoring analyst in the research.
Analysts employed outside the US are not registered as research analysts with FINRA. These analysts may not be associated persons of Canaccord Genuity Inc. and therefore may not be subject to the FINRA Rule 2241 and NYSE Rule 472 restrictions on communications with a subject company, public appearances and trading securities held by a research analyst account.
Required Company-Specific Disclosures (as of date of this publication):
eCobalt Solutions Inc. currently is, or in the past 12 months was, a client of Canaccord Genuity or its affiliated companies. During this period, Canaccord Genuity or its affiliated companies provided investment banking services to eCobalt Solutions Inc.
In the past 12 months, Canaccord Genuity or its affiliated companies have received compensation for Investment Banking services from eCobalt Solutions Inc.
Canaccord Genuity or one or more of its affiliated companies intend to seek or expect to receive compensation for Investment Banking services from eCobalt Solutions Inc. in the next three months.
Disclosures are available here.
( Companies Mentioned: ECS:TSX; ECSIF:OTCQX; ECO:FSE,
)